Netcapital Inc. Reports Net Income of $1.5 Million

Rhea-AI Summary

Netcapital Inc. (OTC-PINK: NCPL) reported a remarkable 4,621% increase in net income, reaching $1,457,410 for Q1 2022. Earnings per share (EPS) surged 829% to $0.65. Additionally, equity securities at fair value rose 204% to $9,623,753, and book value hit $9.26 per share. The funding portal also saw robust momentum, with over $7 million invested, a 500% increase year-over-year. Netcapital plans to discuss these results in an earnings conference call on September 22, 2021.

Positive

• Net income increased 4,621% to $1,457,410.
• Earnings per share grew 829% to $0.65.
• Equity securities at fair value rose 204% to $9,623,753.
• Book value increased to $9.26 per share.
• Funding portal investment reached over $7 million, up 500% YoY.

Negative

• None.

Earnings per share increase 829%

Highlights:

• Net income increased by 4,621% to $1,457,410 vs. first quarter of last year
• EPS grew 829% to $0.65 vs. $0.07
• Equity securities at fair value increased by 204% to $9,623,753
• Book value rose to $9.26 per share 

BOSTON--(BUSINESS WIRE)-- Netcapital Inc. (OTCQX: NCPL), a digital private markets ecosystem, announced fiscal 2022 first quarter earnings of $1,457,410, an increase of 4,621% over the previous year. The company reported fully diluted earnings per share of $0.65 and book value of $9.26.

“We are pleased with the earnings momentum generated by our company this quarter,” said Dr. Cecilia Lenk, CEO of Netcapital Inc. “The performance of our portfolio companies remains strong, while the funding portal continues to deliver robust growth. We are optimistic about the future prospects for Netcapital Inc.”

“The Netcapital funding portal is showing powerful momentum,” added Jason Frishman, CEO of Netcapital Funding Portal Inc. “More than $7 million dollars were invested through the platform this quarter, up 500% from the first quarter of last year. With the recent increase in Reg CF offering limits from $1 million to $5 million, the outlook for the industry remains bright and we look forward to delivering continued growth in the future.”

Netcapital Inc. Will Host An Earnings Conference Call on September 22, 2021

Netcapital Inc. will discuss first quarter results via an investor conference call on Wednesday, September 22, 2021 at 12:00 p.m. ET. To join the call, please use the following access numbers:

• Phone Numbers: 844-985-2012, 973-528-0138
• Conference ID: 712593

Those unable to listen to the call live may access a replay via the Investors section of Netcapital Inc.’s website: www.netcapitalinc.com.

For additional disclosure regarding operating results, please refer to the Quarterly Report on Form 10-Q for the period ended July 31, 2021, which has been filed with the Securities and Exchange Commission.

About Netcapital Inc.:

Netcapital Inc. is a fintech company with a scalable technology platform that allows private companies to raise capital online and provides private equity investment opportunities to investors. The company's consulting group, Netcapital Advisors, provides marketing and strategic advice and takes equity positions in select companies with disruptive technologies. The Netcapital funding portal is registered with the U.S. Securities & Exchange Commission (SEC) and is a member of the Financial Industry Regulatory Authority (FINRA), a registered national securities association.

The information contained herein includes forward-looking statements. These statements relate to future events or to our future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects our current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. We assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210914005903/en/

Netcapital Inc.:

Coreen Kraysler, CFA

CFO

781-925-1700

coreen.kraysler@netcapital.com

Source: Netcapital Inc.

FAQ

What were the earnings per share for Netcapital Inc. in Q1 2022?

The earnings per share for Netcapital Inc. in Q1 2022 were $0.65, an increase of 829%.

How much did Netcapital Inc.'s net income increase in Q1 2022?

Netcapital Inc.'s net income increased by 4,621% to $1,457,410 in Q1 2022.

What is the book value per share for Netcapital Inc.?

The book value per share for Netcapital Inc. is $9.26.

When will Netcapital Inc. host its earnings conference call?

Netcapital Inc. will host its earnings conference call on September 22, 2021.

How much was invested through the Netcapital funding portal in Q1 2022?

Over $7 million was invested through the Netcapital funding portal in Q1 2022, which is a 500% increase from the previous year.